Industry review of retirement home industry Research Paper

Industry review of retirement home industry - Research Paper Example enture should aim at making profits to the investor, but it must also aim at the provision of quality services to the people in the immediate community (Scaffa and Reitz, 2014). There are two types of retirement industries available to individuals who have attained the age of retirement including the independent and the dependent communities. The independent communities consist of consist of the single family homes, condominiums, duplexes, or townhouses where these individuals live just on their own. This kind of industry may offer a number of services. These include provision of the recreation services, taking care of the lawn among other services. On the other hand, the dependent industry is bestowed with the responsibility of the provision of housing arrangements alongside other health care services. These constantly change with the change in the needs and the tastes of the community (Hillstrom and Hillstrom, 2002). In the retirement industry market, the communities are expected to increase especially in America to over 77 million in the next two years. The retirement group is expected to be shopping for the best option in the market regarding housing and health services in the next 2 decades. The venture into the retirement industry requires some capital to help run the facility in one way or the other. Therefore, this industry seems to be centered onto the senior citizens with some sizeable retirement incomes that are adequate to handle the expenses. For instance, in America, the most expensive retirement scheme requires a capital of between $ 100, 000 to $ 1 million (Scaffa & Reitz, 2014). There has been an escalating trend in the development and the expansion of the retirement industry in the American economy. However, in 2007, there was a recession in the US that spread up to the year 2013. This recession slowed down the growth in the retirement industry. This forced several individuals to delay the retirement due to the dwindling personal assets. There